Psychic Friends Firm Goes Bankrupt
Perhaps even the Psychic Friends could not have predicted it. Inphomation Communications Inc., Baltimore, MD, filed for Chapter 11 bankruptcy protection last month, marking near-demise of another infomercial marketing company.Known mostly for its infomercial for the Psychic Friends Network, starring Dionne Warwick, Inphomation listed in a preliminary filing assets of $1.2 million and liabilities of $26.3 million. The company also marketed the Helicopter Lure fishing device, the self-help program Barbara DeAngelis' "Making Love Work" and the WalkVest Training System.
A lawyer for the company, James C. Olson of Baltimore, could not be reached for comment about the future of the firm, owned by Michael Warren Lasky.
